Can you explain the decision not to accept federal stimulus money?
The district sought federal stimulus dollars to aid our efforts this fall in the hopes of saving $10 million to $17 million. We were awarded $3.4 million in interest-free loans. However, through due diligence the district noted that the requirements related to the zero interest bonds and giving consideration to non-present value, the bonds would most likely not generate a savings nearly as much as anticipated. In fact, there was a possibility it would be fairly less than $1 million. The Board decided the savings would not be substantial enough to move forward without completing this process. We also were made aware that a second round of funding through this program will be made available in January. The district fully intends to reapply for these funds for the spring after our process is complete, understanding that any savings will benefit our taxpayers.